Exhibit 99.1

[CFS Bancorp, Inc. Letterhead]

September 23, 2004
FOR IMMEDIATE RELEASE


CONTACT:  Thomas F. Prisby, Chairman of the Board and Chief Executive Officer
          2l9-836-5500



                 CFS BANCORP, INC. DECLARES CASH DIVIDEND


MUNSTER, IN - September 23, 2004 - CFS Bancorp, Inc. (NASDAQ: CITZ)
announced today that its Board of Directors declared a quarterly cash
dividend on September 20, 2004 of $0.11 (eleven cents) per share on the
common stock of the Company.  The dividend will be paid on October 29, 2004
to the stockholders of record at the close of business on October 8, 2004.

CFS Bancorp, Inc. has paid a cash dividend each quarter since its initial
public offering in July 1998.

CFS Bancorp, Inc. is the parent of Citizens Financial Services, FSB, a $1.5
billion asset federal savings bank.  Citizens Financial Services provides
community banking services and operates 23 offices throughout adjoining
markets in Chicago's Southland and Northwest Indiana.

This press release may contain certain forward-looking statements and
information relating to the Company that are based on the beliefs of
management as well as assumptions made by and information currently
available to management.  The words "anticipate," "believe," "estimate,"
"expect," "indicate" "intend," "should," and similar expressions, or the
negative thereof, as they relate to the Company or the Company's
management, are intended to identify forward-looking statements.  Such
statements reflect the current views of the Company with respect to future
events that are subject to certain risks and uncertainties that may cause
actual results to vary.  The Company does not intend to update these
forward-looking statements.

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